Representations of bitcoin and other cryptocurrencies on a screen displaying binary code, seen through a magnifying glass. Illustration published on Sept. 27, 2021. (Credit: Florence Lo/Reuters)
The cryptocurrency industry is beginning to prepare for the threat posed by quantum computing: Recent advances have fueled concerns that the technology could soon be capable of breaking the cryptographic systems that protect digital wallets and transactions.Quantum computers can solve complex mathematical problems much faster than today’s machines and could therefore crack classical encryption methods. Simply put, whereas classical computers process information as either 0 or 1, quantum computers use “qubits,” which can represent multiple possibilities at once. Beyond the headlines UN chief urges global AI governance, warns against letting technology 'vibe-code' future This possibility is worrying for the $2 trillion global cryptocurrency market, whose security relies on cryptography now seen as vulnerable over the long term....
The cryptocurrency industry is beginning to prepare for the threat posed by quantum computing: Recent advances have fueled concerns that the technology could soon be capable of breaking the cryptographic systems that protect digital wallets and transactions.Quantum computers can solve complex mathematical problems much faster than today’s machines and could therefore crack classical encryption methods. Simply put, whereas classical computers process information as either 0 or 1, quantum computers use “qubits,” which can represent multiple possibilities at once. Beyond the headlines UN chief urges global AI governance, warns against letting technology 'vibe-code' future This possibility is worrying for the $2 trillion global cryptocurrency market, whose security relies on cryptography now seen as vulnerable over the long...
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